- Hyderabad techie duped via fake stock investment offers
- Cybercrime police warn against online trading scam traps
Hyderabad, March 27: A software professional from Golconda was cheated of Rs 1.55 crore in a fake stock trading investment scam. The fraudsters allegedly used online tactics to gain trust and lure the victim into transferring large sums of money.
According to police, the victim, identified as Venkata Naga Bharata Simha Gupta, first received a WhatsApp link in early February. The link claimed to offer expert trading tips. Soon after, he joined a group where members shared screenshots of profits. This created a sense of trust and confidence.
Meanwhile, the fraudsters guided Gupta to download a mobile application. He followed their instructions and started transferring money between March 3 and March 23. During this period, the app showed virtual gains of around Rs 2.40 crore. However, he could not withdraw any amount later. This raised suspicion and led him to approach the authorities.
The Hyderabad Cyber Crime Police registered a case after receiving the complaint. They have now taken up an investigation into the matter. Officials are examining the methods used by the fraudsters and tracking possible digital trails.
Meanwhile, the Cybercrime police have urged citizens to stay alert. They warned people against falling for online investment schemes that promise quick and high returns. Such scams often use fake data and manipulated screenshots to mislead users.
Authorities stressed that individuals should verify investment platforms before transferring money. They also advised the public to avoid unknown links and suspicious apps. The case highlights the rising risk of cyber fraud in investment schemes and the need for caution while dealing with online financial offers.
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